BTC/USD declined to 859 levels after hitting a high of 920 levels on December 23. The pair is now once trying to break above the 900 mark and is trading at 901.69 levels at the time of writing (Bitstamp).

Long-term trend: Bullish

Short-term trend: Bullish

Ichimoku analysis of daily chart:

Tenkan Sen: 850

Kijun Sen: 823.50

Trend reversal: 726.40 (90 EMA)

On the upside, a consistent break above the 900 level would see the pair testing 920 (December 23 high). Further strength would target 957 (161.8% retracement of 920 and 859)/981.

On the reverse side, the pair has taken support at the trend line joining 628.99 and 745.19 (859 levels). A break below this level would drag it to 846.68 (10-EMA)/824.62 (38.2% retracement of 670.32 and 920).